According to a report from The New York Times' The Dealbook, the popularity of very lucrative but highly-risky business development companies has surged these days.
Sectors
Hong Kong government advisory body suggests change in law to attract private equity funds
Florence Yip Chiu Kwai-fong, a member of the Financial Services Development Council, said the Hong Kong government needs to make changes in the law that will allow private equity funds to be set up as limited partnerships to enhance the city's fund industry.
Generali to cut costs, bring down debt to improve finances
In order to improve its finances and increase profits, European insurer Assicurazioni Generali said it plans to cut costs further by 2015 and bring down debt.
Russia's USD48 billion bet on Winter Olympics sees Putin sparring with rich elite
Rumors of coercion by the Russian government and President Vladimir Putin on local wealthy industrialists had been shut down by Deputy Prime Minister Dmitry Kozak, who said the moguls enjoyed good deals out of their investor participation for the 2014 Winter Olympics.
Krishnan to cut costs in Malaysian telcom Binariang GSM via potential USD1.9 bond sale - source
An unnamed source was cited by Bloomberg who said Malaysian billionaire Ananda Krishnan's Binariang GSM Sdn will decide whether to pursue its sale of around MYR6 billion or USD1.9 billion of Islamic bonds before the year ends.
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Online software platform Elihuu secured USD30,000 in funding from Deming Center Venture Fund (DCVF), a group of University of Colorado boulder graduate students, for the development and expansion of the company's product.
Chinese refiner Senopec is in discussions with American oil-and-gas firm Apache Corp regarding the purchase of a minority stake in a liquefied natural-gas (LNG) project in Canada, according to sources familiar with the matter.
France's Accor on Wednesday announced a plan to break up the hotel group in order to improve its performance and shareholder returns. Accor, the largest hotel group in Europe, owns luxury and upscale brands such as Sofitel and The Sebel.
The New York Times' The Dealbook reported that small businesses were now fueling a boom on the subprime loan business as investors look for more lucrative but riskier investments.
China's mobile-based taxi booking service Kuaidadi confirmed it recently received a USD100 million investment from Alibaba, and has acquired a Shanghai-based taxi booking app called Dahuangfeng.
Bis Industries on Wednesday announced that it has scrapped its planned initial public offering. The KKR-backed Australian logistics company had been looking to raise AUD500 million (USD456 million) in the IPO.
New Zealand-based dairy firm Fonterra has completed its acquisition of Australia's Tamar Valley Dairy in Tasmania, which is now fully-owned and managed by Fonterra Australia.
American investment firm JMI Equity is reportedly partnering with Hellman & Friedman to takeover Applied Systems Inc. from Bain Capital for USD1.8 billion. JMI has also been an investor in various Chicago companies including BigMachines, Trustwave and CouponCabin.
An SNL Financial report showed that lenders in Massachusetts closed some of the priciest bank deals in the past three years in the US. Four mergers and acquisitions done in the Bay State made it to the top 20 list.
